In recent days, the Polygon (MATIC) network, known for its Proof-of-Stake (PoS) architecture, has recorded significant growth in its activities. Sandeep Nailwal, co-founder of Polygon, highlighted a considerable increase in transaction count, reaching approximately 17 million between November 17th and 18th.
In a broader picture, Polygon not only saw an increase in transactions but also generated a remarkable revenue of $1.2 million for its stakeholders, as pointed out by Nailwal based on data from Token Terminal. This financial performance reaffirms the network’s potential to generate value for its users and investors.
Recently, the “Today in Polygon” channel, focused on network development updates, highlighted the significant partnership with OKX Crypto Exchange, which started using the Polygon Chain Development Kit (CDK). This collaboration is an important milestone as it demonstrates the practical applicability and market confidence in Polygon’s CDK, a tool that enables the building of web3 projects on an open source framework for layer-two chains.
The last 7 days in Polygon👇👀
💜 @okx is using Polygon CDK to build X1, a Layer 2 built on Ethereum
💜 Polygon PoS recorded a new all time high in daily transactions with 16.4M
💜 Polygon PoS recorded an 8 month high in daily DEX volume with $400M+
💜 Polygon zkEVM TVL… pic.twitter.com/Eimi4EG8SQ
— Today In Polygon (@TodayInPolygon) November 17, 2023
Additionally, Polygon’s PoS network achieved an impressive $400 million in transaction volume on Decentralized Exchanges (DEX). This fact underlines users’ growing preference and confidence in the trading capabilities offered by the platform. Complementing these developments, Polygon zkEVM, a breakthrough in network scalability and security, has recorded a 12% increase in its Total Value Locked (TVL) over the past seven days.
This TVL growth indicates substantial liquidity allocation to protocols operating within the Polygon chain, a positive sign for the health and dynamism of the network. Amid these advances, MATIC, Polygon’s native token, continues to be a key component in this upward trajectory, aligning with the positive trends observed in other platform metrics.
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